Explore the tax information and inherent not-for-profit organization issues to be mastered in properly preparing the current Form 990. This course covers the numerous reporting demands the 990 imposes, including how to respond to the Form’s demands for narrative answers. Participants will gain an understanding of the tax and practical points essential to appropriate completion of the Form 990 and be guided on advising exempt clients on the Form’s complexities and diverse demands.
Primacy of the Form 990 as a “one size fits all” reporting mechanism. Form 990 preparation sequencing and data gathering; and keys to getting Form 990 preparation right the first time. Addressing presence of “related organizations” . Identification of managers and measurements of their compensation. 990 versus books-and-records financial statement detail. Disclosures of governance inputs and Boards’ employ of policies.
Basic knowledge of taxation
Recognize and apply the following unique-to-Form 990 definitions: who is a “manager” required to be disclosed upon Part VII-A of the Core Form, required elements of manager’s compensation to be disclosed and when third party entities are “related organizations.” Recognize the detail sought by the IRS in reporting on both program service accomplishments and changes in operations in Part III of the Core Form. Analyze the unique terminology employed in the Core Form’s key “Governance” Part (VI). Identify 990 definitions and tax conventions employed in reporting on all aspects of financial statements (Parts VIII, IX and X). Recognize the importance of making accurate and expansive disclosures via Schedule O relating to six priority governance inquiries made in Part VI. Identify the premises by which Schedule L is triggered.
Brian Yacker, CPA, JD is a partner at Windes & McClaughry Accountancy Corporation. He has 17 years of tax, general business consulting and accounting experience. In the tax field, Mr. Yacker focuses extensively in working with tax-exempt organizations and has extensive experience in preparing and reviewing Forms 990, 990-T, 990-PF and state tax-exempt forms. He also has extensive experience in the preparation and filing of both federal and state tax exemption applications for public charities, private foundations, and other tax-exempt organizations. In numerous instances, Mr. Yacker has negotiated settlements or prevailed in disputes with the IRS on behalf of tax-exempt clients. Representative clients have included large hospitals and other healthcare organizations, universities and colleges, private foundations, trade organizations, other public charities, youth organizations, religious organizations, and amateur sports organizations.
Mr. Yacker is actively involved in the AAA-CPA, serving on both the Finance Committee and the IRS Liaison Committees. Additionally, he is the AAA-CPA’s representative on the Internal Revenue Service Advisory Committee (Office of Professional Responsibility Subgroup).
Mr. Yacker is a member of the American Bar Association (and a participant on the Tax-Exempt Committee of the Tax Section) and the California Bar Association Tax Section. He serves on the Board of Directors of two public charities located in Southern California. Mr. Yacker is also the lead tax-exempt organization instructor for the CalCPA Education Foundation; he teaches several full-day seminars on various tax-exempt organizations topics (public charities tax primer / intermediate public charities issues / private foundations tax primer / intermediate private foundations issues).
Non-Member Price $339.00
Member Price $279.00